MicroPlanet customers are benefiting from savings of 5-12% in electricity bills, reduced greenhouse gas emissions and improved power quality. SEATTLE, July 21 /PRNewswire-FirstCall/ -- MicroPlanet, (MP:TSXV & MCTYF:OTC) a clean technology, energy conservation company, is pleased to announce the second tranche and final closing of the private placement equity financing. The Company sucessfully raised in two tranches a total in gross proceeds of approximately $7.1 million. For the closing of the second and final tranche of the private placement equity financing, MicroPlanet issued 245,000 units ("Units") at a price of $0.65 per Unit for gross proceeds of $159,250 in Canadian dollars. Each Unit consisted of one common share of MicroPlanet and one-half of one common share purchase warrant. Each whole warrant is exercisable for one common share at a price of $0.90 per share for a period of 24 months from the closing date. If at any time during the exercise period of the warrants the volume weighted average price at which MicroPlanet's common shares have traded on the TSX Venture Exchange for any 20 consecutive trading days exceeds $1.50 per share, MicroPlanet may notify the warrant holders and the warrants will expire 30 days following the date of any such notice. All of the common shares and warrants issued pursuant to the financing will be subject to a 4-month hold period in accordance with applicable securities laws and stock exchange requirements. The financing syndicate of agents (the "Agents") was led by Loewen, Ondaatje, McCutcheon Limited and included PI Financial Corp. and D&D Securities Co. In connection with this closing of the second tranche of the financing transaction, MicroPlanet paid the Agents a 7% commission fee of total gross proceeds and issued an aggregate of 17,150 non-transferable compensation options, each entitling the holder to acquire one Unit having the same characteristics as those described above, at a price of $0.65 per Unit. "The final closing of our financing coincides with the beginning of commercial shipments against our current $6.6 million in backlog of orders," said Bruce Lisanti CEO of MicroPlanet. MicroPlanet customers are benefiting from savings of 5-12% in electricity bills, reduced greenhouse gas emissions and improved power quality, which our proprietary technology delivers by optimizing the voltage. As a result, the demand for products is at a new high from commercial businesses and utilities worldwide." Lisanti continues, "Our commercial customers are now seeing energy savings that results in average payback periods of less than three years without any governmental incentive programs" "Utilities worldwide are beginning to deploy our products to improve power quality in thousands of locations along their power grid," concluded Lisanti. MicroPlanet technology is also helping them speed the adoption of renewable energy sources by stabilizing voltage fluctuations. Subsequent to the closing of the private placement, MicroPlanet has approximately 41.1 million shares outstanding. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements. About MicroPlanet Technology Corp. MicroPlanet's technology helps to reduce the total amount of energy we need to produce by significantly increasing the efficiency of the electric grid. MicroPlanet's products dynamically manage the voltage delivered to a business or home to optimal levels, which saves energy, lowers electricity bills and helps reduce greenhouse emissions. The Company's products also reduce peak period demand and can improve utility services. In areas where substantial energy is generated from wind and solar, MicroPlanet systems also help to balance the voltage levels, improving the power quality for residential and commercial users." MicroPlanet website: http://www.microplanet.com/. THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED. THE RISKS, UNCERTAINTIES AND OTHER FACTORS, BOTH KNOWN AND UNKNOWN, THAT COULD INFLUENCE ACTUAL RESULTS MAY BE SUBSTANTIAL AND INCLUDE THOSE DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES, SUCH AS THE COMPANY'S MOST RECENTLY FILED ANNUAL AND QUARTERLY REPORTS AND ANNUAL INFORMATION FORM. ACCORDINGLY, NO ASSURANCES CAN BE GIVEN THAT ANY OF THE EVENTS ANTICIPATED BY THE FORWARD-LOOKING STATEMENTS WILL TRANSPIRE OR OCCUR, OR IF ANY OF THEM DO SO, WHAT BENEFITS THE COMPANY WILL DERIVE THEREFROM. THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN. DATASOURCE: MicroPlanet Technology Corp. CONTACT: MicroPlanet Company Contacts: Bruce Lisanti, President & CEO, Tel: (206) 625-0851, Fax: 206-625-0999, ; MicroPlanet Investor Relations: Gerry Wimmer, INVESTORFILE.com, Tel: (416) 360-8895, Toll Free: 1-888-894-8222,

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